AUROBINDO CONCALL
• US Injectables Impacted by supply challenges
• Aiming for 21-22% EBITDA margin for FY25
• Expect Oct-Mar financials to be vs Apr-Sept
• Kakinada Penicillin-G Unit breakeven expected In Jan-March
• US pricing expected to be neutral In Oct-Mar
• Product launches, volume gains to drive US growth
NARAYANA HRUDAYALAYA Management Says To Receive Govt Nod For IP Business In Cayman Soon
Expect to get Govt approval for IP business in Cayman Islands over next few weeks
Will See Full Impact Of Capex In Cayman in Q3
Cayman Islands impact will be over in 4 to 6 quarters; capex totally done
NARAYANA HRUDAYALAYA Management Says To Receive Govt Nod For IP Business In Cayman Soon
Expect to get Govt approval for IP business in Cayman Islands over next few weeks
Will See Full Impact Of Capex In Cayman in Q3
Cayman Islands impact will be over in 4 to 6 quarters; capex totally done
EARNINGS
STRONG- AFFLE, DIVIS LABS, SHIPPING CORPORATION, WHIRLPOOL, FORTIS
INLINE/MIXED-AUROBINDO PHARMA, LIC, OLA ELECTRIC
WEAK-ASIAN PAINTS, TATA MOTORS, UUTKRASH SMALL FINANCE BANK, AARTI INDUSTRIES , ADVANCED ENZYME, ORIENT CEMENT
Earnings Post Market (8th, 9th, 10th Nov)
1) Auro Pharma (In Line With Expectations)
2) Divis Lab (Above Est)
3) Tata Motors (Below Estimate)
4) Asian Paints (Below Estimate)
5) Archean Chemicals (YoY Weak, QoQ Flat)
6) Ikio Lighting (YoY Weak, QoQ Flat)
7) Jupiter Wagon (YoY Weak, QoQ Flat)
8) DOMS (YoY Good, QoQ Flat)
9) Welspun Corp (YoY Weak, QoQ Better)
10) Atul Auto (YoY Weak, QoQ Good)
11) Whirlpool (YoY Good, QoQ Weak)
12) Ramco Systems (Flat)
13) SCI (Good)
14) Kovai Medical (Good)
15) HCG (Good)
16) Metropolis (Good)
17) Samhi Hotel (Good)
18) Fortis Hospital (Good)
19) Premier Energies (Good)
20) Vishnu Prakash (Good)
21) Khadims (Good)
22) Fine Organics (Good)
23) HBL Power (Good)
24) Affle India (Good)
25) KIMS (Good)
26) Pakka (Good)
27) Relaxo (Weak)
28) Aarti Ind (Weak)
29) Dreamfolks (Weak)
30) Signature Global (Weak)
31) Goa Carbon (Weak)
32) Ola Electric (Weak)
33) CE Info (Weak)
34) TVS Elec (Weak)
The Genset Industry, a key component of the capex boom in The Capital Goods sector. The video provided some valuable insights.
Here are my notes, summarizing the essential elements covered in-depth:
Shared by saksham via twitter
Jash Engineering Ltd
Jash Engineering is manufacturing a wide range of equipment for Water Intake Systems, Water and Waste Water Pumping Stations and Treatment Plants,
Waste Water Treatment Projects
Jash supplied a 36m diameter clarifier for a 162 MLD STP in Surat
Model SPT-C: Centrally driven pier-mounted clarifiers are used to thicken sludge and clarify water by sedimentation.
Focus Area of the Company Waste Water Treatment
⚡️Effluent treatment plants: These plants treat wastewater to make it safe for disposal or reuse.
⚡️Water control gates, screens, and valves: These components are used to regulate the flow of water and wastewater.
👉Key metrics
⚡️Market Cap: ₹ 3,027 Cr.
⚡️Current Price: ₹ 484
⚡️Stock P/E: 43.1
⚡️ROCE: 25.1 %
⚡️ROE: 22.7 %
⚡️Debt to equity: 0.23
⚡️Profit Var 3Yrs; 29.9 %
⚡️Sales growth 3Years: 19.9 %
JITF Infra Logistics Ltd
JITF Infra Logistics in the business of development of urban infrastructure, water infrastructure, management of municipal solid waste and generation of energy from Municipal solid waste
Waste Water Treatment Projects
JITF Infra Logistics Ltd is actively involved in wastewater treatment projects through its subsidiary
They are executing projects worth Rs. 4000 Crores and have a significant presence in the global water industry.
Focus area of the company Waste Water Treatment
⚡️EPC Projects: JIL undertakes turnkey EPC (Engineering, Procurement, and Construction) projects for wastewater treatment plants (WWTPs)
⚡️Operation and Maintenance (O&M): They offer comprehensive O&M services for WWTPs.
👉 Key metrics
⚡️Market Cap: ₹ 2,417 Cr.
⚡️Current Price: ₹ 939
⚡️Stock P/E: 50.9
⚡️ROCE: 16.0 %
⚡️Profit Var 3Yrs: 30.6 %
⚡️Sales growth 3Years: 52.4 %
Teerth Gopicon Ltd business model
Teerth Gopicon is an all class civil and Electrical Contractor
Waste Water Treatment Projects
MLD STP project under Smart City: This project involved the construction of a Sewage Treatment Plant (STP) with a capacity of MLD (Million Liters per Day) as part of a Smart City initiative.
Focus area of the company waste water treatment
⚡️Sewerage: Development of sewerage networks and treatment plants.
⚡️Water Distribution: Design and implementation of water supply systems.
👉Key Metrics
⚡️Market Cap: ₹ 614 Cr.
⚡️Current Price: ₹ 512
⚡️Stock P/E: 53.2
⚡️ROCE: 75.3 %
⚡️ROE: 84.1 %
⚡️Debt to equity: 0.70
⚡️Profit Var 3Yrs: 193 %
⚡️Sales growth 3Years: 31.4 %
Pharma Sector:
(Comparison)
1. Supriya Lifesciences: Most dynamic performer with standout growth across metrics.
2. Caplin Point: Steady and reliable, offering consistent performance.
3. Innova Captab: Strong growth but comes with a higher valuation.
Escorts says Expect combined Market Share at 12-12.5% by end of FY25
Kubota sales strong in Oct 2024
Exports will scale to 15% in 4-5 Yrs vs sub 5% now
Expected higher valuation for rail biz incomparison to what it was sold at
Va Tech Wabag:
Co Targeting 3x Revenue Order Book,
15-20% Revenue Cagr,
13-15% Ebitda,
>20% Roce
With Asset-light Model,
O&m At 20% Of Revenue,
>15% Roe,
And A Net Cash-positive Position Over 3-5 Years
Future Outlook:
The Company has a strong portfolio of CPCB IV+ emission norms-compliant products to meet customer demand across the entire product range. With the transition to new emission norms, we remain cautiously optimistic about the demand outlook for the near term and optimistic about the long-term growth prospects.
Regarding exports, the company continues to work closely with its trade partners to drive growth in respective end markets. We remain cautiously optimistic about the export demand recovery as the economic and geopolitical events have impacted the end markets. With its diversified portfolio of products, company remains optimistic about the recovery in exports demand.
The Company has access to latest technology, a trusted brand, wide range of incredible products, world-class manufacturing capabilities, best-in-class talent, and a customer-centric service organization with an extensive distribution and service network throughout the country and neighboring regions. The company is well- positioned with a strong balance sheet and liquidity position to support profitable growth.
Shveta Arya, Managing Director, Cummins India Limited, said:
The Indian economy continues to remain resilient despite increasingly intense geopolitical conflicts. GST collections continue to remain strong, indicating robust underlying trade activities, while other key economic indicators like IIP, PMI are pointing to a reasonable economic outlook for the year.
With stable fiscal and monetary policies, the Government’s continued emphasis on infrastructure development, and PLI-led capex, the Indian economy is on course for growth in the range of 6.8% to 7.2%, according to various estimates. Cummins India Limited continues to execute its profitable growth strategy and is well-positioned to meet the demands of its end markets. At the same time, internationally, geopolitical risks and conflicts continue to pose uncertainty about global trade and supply chain disruptions.
Effective July 1, 2024, with a complete transition to CPCB IV+ emission norms for the applicable products, the company is well-positioned and had all its products certified well ahead of the time.
Good Results from many Hospitals
Valuations ~ Ev/Ebitda (x)
~ Kims : 34
~ Rainbow : 33
~ Aster : 28
~ Dr Agarwal : 24
~ Yatharth : 23
~ HCG : 20
~ Kovai : 16
P/E not a right metric since dep is very high
Ev/Ebitda right metric to value asset heavy business
Premier Energies : Concall Insights
Golden period for next 2 years
Chinese solar companies bleeding
As more capacities come live in the coming years margins will get impacted
Regulations protecting the industry
Insights on rapidly growing FMCG companies from a recent video by
suru27, do use these as research ideas to dig deeper into the following:
Global - US Tariffs on China
Tariffs are not just on Solar but many categories
#All india Vehicle Retail Data for Oct 24
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Vishnu Prakash R Punglia Ltd
Vishnu Prakash R Punglia is engaged in the business of designing and constructing infrastructure projects for the Central and State Governments, autonomous bodies
Focus area of the company Waste Water Treatment
⚡️Water Supply Projects: Construction of water treatment plants, pipelines, reservoirs, and distribution networks to ensure clean
⚡️Sewage and Wastewater Management: Construction of sewage treatment plants, sewer networks
👉 Key metrics
⚡️Market Cap: ₹ 3,815 Cr.
⚡️Current Price: ₹ 306
⚡️Stock P/E: 31.7
⚡️ROCE: 24.7 %
⚡️ROE: 23.6 %
⚡️Debt to equity: 0.55
⚡️Profit Var 3Yrs: 86.0 %
⚡️Sales growth 3Years: 44.9 %
SPML Infra Ltd business model
SPML Infra is in the business of infrastructure development
Waste Water Treatment Projects
Mira Bhayandar STP: SPML is executing one of India's largest and first Comprehensive Underground Sewerage System in Mira Bhayandar, Maharashtra. The project includes 10 STPs with a total capacity of 115 MLD.
Focus area of the company Waste Water Treatment
⚡️Wastewater Collection and Treatment: This includes the design, construction, and operation of sewage treatment plants
⚡️Water Reuse and Recycling: SPML develops solutions for reusing treated wastewater for various purposes
👉Key metrics
⚡️Market Cap:₹ 1,348 Cr.
⚡️Current Price: ₹ 228
⚡️Stock P/E: 147
⚡️ROCE: 3.74 %
⚡️ROE: 0.16 %
⚡️Debt to equity: 1.29
⚡️Profit Var 3Yrs: 27.2 %
⚡️Sales growth 3Years: 24.5 %
👉 Waste Water 💦 Treatment Has Huge Growth Opportunity in India 💹✨
🌟 5 Companies Which are Actively Participating in Waste Water Treatment Projects 💥✨
Small Cap: India Electronics & AC Manufacturing Theme:-
(1) Kaynes Tech:
A leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in India, with capabilities across the entire spectrum of ESDM services.
(2) PG Electroplast :
Co. specializes in Original Design Manufacturing (ODM), Original Equipment Manufacturing (OEM) and Plastic Injection Molding, catering to 50+ leading Indian and Global brands.
(3) EPack Durables :
Co. is the 2nd largest room air conditioner Original Design Manufacturer (ODM) in India in terms of number of units, specializing in room air conditioners (RAC) and related components. It has 24% market share in domestically manufactured units by ODM in FY23.
(4) Amber Enterprises :
A 23.6% share in the total Room Air Conditioner market and is a prominent solution provider for the Air conditioner OEM/ODM Industry in India.
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Which stock do you own and what price?
Disclaimer - For education purpose, not buy/sell recommendation. Please do your research.
Lupin raises FY25 core margin and EBITDA margin guidance
Core margin now seen in the range of 23-25% Vs previous guidance of 23-24%
CUMMINS INDIA Q2FY25 CONCALL
Maintain Doube-digit Revenue Growth In FY25
Guidance: expect double digit growth in sales for full year FY25
Cummins India Says Watching CPCB IV+ Gerket Mkt, Will See What Happens To Pricing In Next 2 Qtrs
Have Been Able To Maintain The Pricing For CPCB IV+Gensets Since Launch
Well Positioned In CPCB IV+ Gensets Market
Exports Were A Mixed Bag, Saw Good Orders Coming In From Latin America & Europe
Cummins India See A Large Share Of Projects Biz In This Quarter
CUMMINS INDIA Says Capacity Utilisation Is At 60-65% On An Avg
We Are Working On Margin Improvement
Given Al Boom, Demand From Data Centres Is Robust, We Are Focussing On The Segment
Indigo Paints says Demand In 02 Was Subdued, Co Outperformed Industry
Will Return To 20-25% Growth Once Demand Returns
Volume & Value Growth Have Been Largely Similar
Price Hikes In Prev Qtrs Haven't Made Up For The Cuts Taken 10 Months Ago
INDIGO Paints Says There is Some kind Of Demand Slowdown
Guidance and Outlook ( AUG 2024 )
Management anticipates double-digit growth over the fiscal year 2024-25, aiming for growth at 2x the GDP rate.
The company is optimistic about maintaining strong domestic demand driven by infrastructure development.
Recently posted Q2FY25 very strong Number
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